The cryptocurrency space is thriving with excitement. Blockchain offers everything – from the drama of market volatility to the emergence of new projects daily. It’s hard to imagine anyone being bored navigating the crypto universe. Cryptocurrency airdrop registration details are now a key way to discover new projects and access exclusive tokens. One of the most exciting aspects of crypto is finding a new coin or token. These often represent innovative blockchain use cases that may not have been tried before.

Like companies, the projects behind these currencies require marketing strategies to promote their coin/token.  This helps to reach out to those unfamiliar with the project so that they can get initiated.  Not an easy task, considering that there are regularly thousands of active cryptocurrencies at any given moment (currently over 6,700 and counting).

However, one popular technique to advertise an unknown crypto project has been through the practice of conducting airdrops.  After all, the words “free money” is as sweet in English as it is in any other language around the world.

What are Cryptocurrency Airdrops?

Cryptocurrency airdrops are marketing tactics where users register basic information with a crypto project. Cryptocurrency airdrop registration details are crucial in this process. In exchange, they receive coins or tokens, typically used on the project’s blockchain.

Information required may include name, email, and other details to help the project engage users as it grows. Airdrops often ask users to join community channels (e.g., Telegram) or follow the project on social media platforms like Twitter and Instagram.

In other cases, coin or token holders of a specific blockchain may simply receive currencies in their existing wallet.  This may happen when a blockchain gets “forked” (or when one blockchain splits into two separate chains).  In these cases, cryptocurrency holders of the original blockchain will get corresponding currencies on the new blockchain.  One of the more famous forks has been the fork from Bitcoin (BTC) to Bitcoin Cash (BCH).  During this fork, BTC holders received one for one BCH for the amount of BTC they were holding at the time of the fork.

How to Uncover Cryptocurrency Airdrops

With the large number of crypto projects out there, it should be of no surprise that many of the coins and tokens received during a cryptocurrency airdrop end up holding very little value in the end.  Still, for all the unsuccessful airdrops out there, from time to time, there are a few gems that may be uncovered.  And for that, it is worthwhile to keep track of, and monitor potential airdrops from existing and upcoming projects.  But how?

Interested individuals can take the normal route, and follow hashtags such as #airdrop on Twitter.  Additionally, sites like airdrops.live or airdropland also maintain running lists of upcoming and past airdrops which have taken place.

Regularly monitoring social media platforms and these sites will not only help keep users up to date on the latest crypto projects, but will also allow individuals to be amongst the “first to know” about exciting new blockchain use cases and ambitions.

After Signing Up for an Airdrop

Once registered for an airdrop with an exciting new project, users generally need to wait for the airdrop to take place.  In the meantime, users should stay close to the project, following their social media channels and following any announcements that may be released about the airdrop.

However, other more sophisticated tools can also be utilized here.  In particular, PARSIQ has a monitoring tool which can send alerts directly to Telegram accounts, informing users of when coins or tokens have moved from a particular wallet (e.g. from the project’s foundation).  This product, named Flashr, is a public and free to use monitoring system which provides real time alerts and information about the movements of a project coin or token.  In collaboration with CoinMetro and Cryptorank, Flashr provides real-time notifications on 17 different altcoins – all for free.

Staying Vigilant

The cryptocurrency space is still growing, with many projects vying for dominance in Web 3.0. Amid the excitement, bad actors are looking to exploit those trying to invest and learn in this complex industry.

Those interested in airdrops must take precautions to protect their personal and financial information. Red flags include requests for private wallet keys, advance payments (fiat, crypto, or credit cards), or personal details like national ID numbers, passport numbers, addresses, bank account info, and cryptocurrency airdrop registration details beyond basic information.

Secure Your Wallet from Risks

Individuals should avoid using the same wallet for airdrops and other blockchain transactions. Blockchains are recorded on a public ledger, meaning past transactions and wallet balances are visible. If account balances are exposed, users may be targeted more aggressively.

The crypto space is exciting, with rapid growth and change ahead. However, parts of the industry remain vulnerable, and new entrants should be cautious about exposing personal and financial information. Fortunately, companies like PARSIQ offer monitoring services for both project and personal wallets, providing added control during blockchain transactions.

Solutions like these, amongst others, should be seriously considered by all blockchain participants.